EN590Direct State Owned Refinery FOB DipTest & Pay

Procedure / fob dip test & pay 1 / tank to tank / Houston/Rotterdam/Jurong
1. Buyer issues ICPO along with the Tank Storage Agreement (TSA) upon acceptance of the seller’s offer.

2. Seller issues a Commercial Invoice (CI) for the available on-ground quantities to be sold to the buyer.

3. Buyer signs and returns the Commercial Invoice along with the NCNDA/IMFPA, signed by all buyer group members with the agreed commission structures.

4. Seller issues the Injection Programming Agreement (IPA) to be signed by both the end buyer and the buyer’s tank farm.

5. The seller’s representative arrives at the buyer’s storage terminal to program the injection and provides the buyer with the following documents. During this visit, the representative will carry out full-scale measurements and calculations of the incoming injection to be scheduled, including all programming, measuring, and verification procedures within the storage.

-Unconditional Dip Test Authorization (DTA);
-Fresh SGS Report inspected in Rotterdam;
-NCNDA/IMFPA;
-Reservoir Storage Receipt with GPS coordinates;
-Authorization to Verify (ATV);
-Injection Report;
-Certificate of Origin;
-Authorization to Sell and Collect (ATSC).

6. Buyer upon verification and confirmation of the product and the ppop documents, orders sgs to conduct the dip test in the seller reservoir on buyer expenses (optional if the buyer is satisfy with the fresh SGS).

7. Upon successful dip test, seller commences injection immediately into buyer tank and issues buyer title of ownership certificate to be followed by all export documentation.

8. Buyer makes payment by mt 103 or tt wire transfer for the total product and lifts the product and seller pays all intermediaries involved in the transaction.
Products : EN590 Price FOB $470/$460, A1 Jet Fuel: $81/$77, D6: FOB Price $0.88 USD Gross / $0.86 USD Net and more Optional procedures.